Conventional methods of financial planning tend to take into considerations a multiplicity of variables, such as, for example, budgeting and cash flow, composition of client's net worth, investment considerations, risk management, taxation and the selection of financial products. In lieu of and in addition to conventional methods of financial planning, some spiritual believers may attempt to deal with matters of finance from a spiritual perspective to achieve financial goals, as well as altruist pursuits.
For example, some Christians believe that their lifestyle, including their financial dealings should portray characteristics consistent with the spiritual principles and scriptural teachings of the Bible. Many faith-based texts contain advice and/or directives regarding how its believers should conduct their financial matters. For example, for Christians, the Bible contains over 2,000 verses addressing money matters and dealing with material possessions.
The Bible, for example, establishes specific principles and instructions related to the financial dealings and beliefs which support Christian values and Christian teachings. Therefore, many Christians believe that Biblical instructions should prevail in their financial dealings. By following these established Biblical financial teachings, some Christians believe will lead to a more enriched and fulfilled personal, spiritual and financial life. These believers often focus solely on their belief in these spiritual principles while discounting the importance of sound conventional financial principles and practices. On the other hand, many spiritual believers have deviated from faith-based financial principles and values, placing little relevance on how these principals relate to the practical matters in their financial dealings and outcomes In either scenario for a spiritual believer, an imbalanced view of financial concepts and ineffective financial management can present economic limitations that stunt both personal progress toward worthy pursuits and overall economic well being. Thus, many spiritual believers who rely predominately on faith and have a limited set of beliefs relating to money, oftentimes, fall into the same financial traps that plague nonbelievers.
It may be desirable to provide an apparatus and method that combine a traditional economic system with a faith-based economic system to facilitate financial planning. It may also be desirable to provide a searchable rules database that contains faith-based concepts and practical applications for financial planning directed towards stewardship. It may further be desirable to provide an apparatus and method that permit iterative alterations based upon proposed or hypothetical fact patterns to provide a user with reliable projections of potential goal planning scenarios based on particular events in the user's financial situation. It may also be desirable that the iterative process allows updates and revisions to the user's financial planning that takes into account actual changed financial circumstances.